Where Do Companies Do Their Business? In the Markets or in the Society?

It is an undisputed fact that a company's survival does not depend upon its consumers alone, but a diverse set of stakeholders like the government, religious leaders, social activists, NGOs, media, etc. Hence, earning the satisfaction of these segments is also as imperative as they add to the power of the brand by word of mouth. Corporates that embrace the deepest social values have been successful in building powerful brands, and, eventually, robust customer relationships. The area of corporate social justice falls under two broad categories. The issues such as the nutrition of children, child care, old-age homes, amelioration of hunger, offering aid to those affected by natural calamities, etc. come under the first category. The issues that contribute to making society a pleasant place to live in the long run may be grouped under the second category. The issues which come under this category are health awareness and aid, education, environmental protection, women's employment and empowerment, preventing unjust discrimination (on the basis of caste, community, religion, ethnicity, race, and sex), eradication of poverty, preservation of culture, values, and ethics, etc. Procter and Gamble's (P&G) philosophy is that it should lead the industry in implementing a global environmental programme. P&G contributes to sustainable development and addresses environmental and social issues connected with its products and services.